Axxcess Wealth Management LLC Grows Position in Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC grew its stake in Mplx Lp (NYSE:MPLX) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,403 shares of the pipeline company’s stock after acquiring an additional 1,146 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $546,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MPLX. Geneos Wealth Management Inc. lifted its holdings in Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 409 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Mplx during the fourth quarter worth approximately $98,000. Allworth Financial LP grew its stake in Mplx by 25.1% in the 4th quarter. Allworth Financial LP now owns 2,576 shares of the pipeline company’s stock worth $134,000 after acquiring an additional 517 shares during the period. Archford Capital Strategies LLC acquired a new position in Mplx in the 4th quarter valued at $200,000. Finally, Panoramic Investment Advisors LLC purchased a new position in shares of Mplx during the 4th quarter worth $200,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MPLX. Royal Bank of Canada increased their target price on Mplx from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. Morgan Stanley increased their price objective on shares of Mplx from $56.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Wells Fargo & Company boosted their target price on shares of Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays increased their price target on shares of Mplx from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Mplx Stock Down 0.7 %

NYSE MPLX opened at $53.68 on Friday. The stock has a market cap of $54.89 billion, a PE ratio of 12.75, a P/E/G ratio of 1.69 and a beta of 1.40. The business has a 50 day moving average price of $52.71 and a two-hundred day moving average price of $48.42. Mplx Lp has a fifty-two week low of $39.56 and a fifty-two week high of $54.87. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the business earned $1.10 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Monday, February 3rd. Mplx’s dividend payout ratio (DPR) is 90.74%.

Insider Buying and Selling

In related news, VP Shawn M. Lyon purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the purchase, the vice president now owns 25,299 shares in the company, valued at approximately $1,334,522.25. This represents a 18.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.